Bengaluru based pay-later service provider raised $70m in Series A funding led by General Catalyst.
“The Indian credit market is ripe for explosion and there is vast room for innovation. We found a strong product-market fit with our very first product, the Pay 1/3rd card — a first of its kind card in the market — and haven’t looked back from there,” said Gupta. “BNPL [buy now, pay later] is growing at a breakneck speed in India and within BNPL we are seeing that the biggest potential lies in the Pay1/3rd category and we are leading this space with our innovative product and customer experience. We are delighted to have some of the best investors in the world partnering with us as we gear up for our next phase of growth.”